Comparison · Updated October 15, 2026
Yoco vs iKhokha: South African card machines compared
Yoco
B
Yoco is a Cape Town payments company that sells card machines, a free point-of-sale app and online payment tools to small and independent businesses in South Africa, and only in South Africa: its terms refuse businesses registered elsewhere and limit processing to sales made in the country, in rand. A merchant signs Yoco's own agreement rather than applying to a bank for a merchant account, with Absa and Citibank named in the terms as examples of the banking partners behind the payment service, which is why sign-up takes minutes and why Yoco, not a bank, decides when to pause a payout. As of September 2026 there are three plans. Core costs nothing a month and charges 2.30% excluding VAT on local cards in person, dropping to 1.35% on debit cards once the rolling three-month average of monthly sales reaches R50,000. Plus (R249 a month per location) and Pro (R499) lower those rates and add loyalty, multi-location, table management and accounting integrations. Online payments cost more: 2.95% + R2 excluding VAT on local cards on Core. Hardware is bought outright, with no rental: the Khumo 2 card machine was R699 on promotion. Standard payouts are free and, on Yoco's own schedule, reach the bank two to three business days after the sale, and faster payouts cost extra except on Pro. Yoco said in May 2026 that it serves more than 200,000 merchants; its newer card-machine page claims 250,000+ businesses. Its public review record is mixed: 3.7 out of 5 across 356 HelloPeter reviews in the past year, with praise for named support staff and complaints about account reviews, held payouts and chatbot-first support.
iKhokha
B
iKhokha is a South African payments company based in Umhlanga, KwaZulu-Natal, that sells card machines, tap-on-phone acceptance and online payment tools to small businesses. It was founded in 2012 and has been a wholly owned subsidiary of Nedbank Group since the bank's R1.65 billion all-cash purchase, which Nedbank consolidated from 1 December 2025. You buy the card machine outright rather than renting it: as listed in October 2026, the iK Flyer with a built-in printer costs R1,499 and the iK Flyer Lite R699 (reduced from R999), with an optional R75 a month SIM for unlimited data. Tap on Phone is free on a compatible Android or Huawei phone. In-person rates for South African cards are published in volume tiers, from 2.75% down to 2.5% excluding VAT, with custom pricing above R100,000 a month. Online card payments cost 2.85%, Instant EFT 2%, international cards 3.25% and in-person Amex 3.4%, all excluding VAT. A flat R2.50 is charged on each daily payout. The agreement is month-to-month with one calendar month's written notice. iKhokha is a payment aggregator: merchants are sub-merchants under acquiring authority from Absa and Nedbank. Hellopeter reviews are mixed, with complaints focused on held payouts and account terminations.
VS
Overview
Yoco and iKhokha both sell card machines that South African small businesses buy outright, with no rental and published rates. We compare them in rand, using what each published as of 15 October 2026, on Yoco's free Core plan against iKhokha's standard tiers. Both quote rates excluding 15% VAT. Entry hardware costs the same: R699 for Yoco's Khumo 2 and for iKhokha's iK Flyer Lite, both shown as reduced prices on 15 October 2026 with no end date given. Yoco is cheaper to use in person at every published volume: 2.30% on local cards to start, against iKhokha's 2.75%, and Yoco's local debit rate falls to 1.35% once your rolling three-month average reaches R50,000. Yoco also includes unlimited mobile data and charges nothing for standard payouts, while iKhokha charges R75 a month for its optional data SIM and R2.50 on every payout. iKhokha's advantages are speed and service: payouts as soon as the next business day for FNB and Absa clients, same-day payouts through its iK Debit Card, a lower online card rate with no fixed fee for smaller sellers, Instant EFT at 2%, and longer phone support hours. iKhokha has been a wholly owned Nedbank subsidiary since 1 December 2025. Payment Review grades both B.
Key Takeaways
- ✓Yoco is cheaper for in-person card payments at every published volume. On a R30,000 month of local card sales, Yoco's Core plan costs R690 plus VAT (R793.50), against R825 plus VAT (R948.75) at iKhokha, before iKhokha's R2.50 fee on each payout.
- ✓iKhokha pays out faster. FNB and Absa clients can get money as soon as the next business day, and iK Debit Card users get same-day payouts twice a day. Yoco's free standard payout usually lands two to three business days after the sale, and faster options cost 0.75% or 1.50% on Core.
- ✓Entry hardware costs the same at R699, but Yoco includes unlimited mobile data on its machines. iKhokha's pages disagree: its fee list and shop page show an optional R75-a-month data SIM, while its pricing table shows unlimited 4G data as included. Yoco's printer model is R1,399, against R1,499 for iKhokha's iK Flyer.
- ✓iKhokha is cheaper online for smaller sellers: 2.85% excluding VAT with no fixed fee, against 2.95% + R2 on Yoco's Core plan. It also offers Instant EFT at 2%. But iKhokha's gateway does not take American Express or Diners Club.
- ✓There is no overall winner, and both are graded B. Yoco suits a business that mainly takes cards at the counter and wants the lowest running cost. iKhokha suits one that needs fast payouts, sells more online, or wants longer support hours.
Yoco
Yoco suits a small South African business that mainly takes cards in person and wants the lowest running cost: lower published rates at every volume, mobile data included, free standard payouts, and a machine you can pass on to another Yoco merchant.
iKhokha
iKhokha suits a business that needs its money the next day (or the same day on some payout routes), sells smaller tickets online or by Instant EFT, or wants phone support until 19:30 on weekdays, and is happy with a Nedbank-owned provider.
The Verdict
It Depends on Your Needs
Why?
Both are graded B, and each wins on different things. Yoco is cheaper to run for a business that mainly takes cards in person: its published local-card rates are lower at every volume, standard payouts are free, mobile data is included, and its machines can be passed on to another Yoco merchant. iKhokha wins on payout speed, with payouts as soon as the next business day for FNB and Absa clients and same-day payouts through its iK Debit Card. It is also cheaper online for smaller sellers, offers Instant EFT at 2%, and keeps its phone lines open longer. Choose based on which matters more to you: the lowest fees, or getting your money sooner.
Feature by feature
Detailed Comparison
Filter Options
In-person card rates (South Africa, ex VAT, October 2026)
| Feature | Yoco | iKhokha |
|---|---|---|
| Local cards, entry rate | 2.30% Winner | 2.75% |
| Yoco's figure is its free Core plan for local debit and credit cards up to R50,000 a month. iKhokha's is its rate for South African cards on its card machines up to R40,000 a month. Neither adds a fixed fee per in-person transaction. Both quote rates excluding 15% VAT, so you pay 2.645% at Yoco and 3.1625% at iKhokha (iKhokha's own help centre uses the 3.1625% figure). Yoco's paid plans cut the entry debit rate further: 2.10% on Plus and 1.95% on Pro, for subscriptions of R249 and R499 a month per location (subscription prices include VAT; the rates do not). | ||
| Local cards, higher volume | Debit 1.35%, credit 2.30% (over R50k) Winner | 2.65% to 2.5% (R40k to R100k) |
| Yoco's Core debit rate drops to 1.35% once your rolling three-month sales average reaches R50,000. Its local credit card rate stays at 2.30% on Core. iKhokha's rate steps down to 2.65% (R40,000 to R60,000), 2.55% (R60,000 to R80,000) and 2.5% (R80,000 to R100,000), based on your average over the past three months, with new rates taking effect from the 10th of the following month. iKhokha's help centre is not consistent on this: its payouts article instead says the rate drops once payout volume reaches R40,000, R60,000 or R80,000 "within a trading month" and does not go back up if volume falls. Even Yoco's credit card rate is lower than iKhokha's best published tier. Above R200,000 a month (Yoco) or R100,000 (iKhokha), both offer custom rates. iKhokha also says it will "match or beat your rate" for merchants who switch. | ||
| International cards | 3.20% (2.75% over R50k) Winner | 3.25% |
| In-person rates, excluding VAT. Yoco's are on the Core plan. iKhokha's 3.25% applies to cards issued outside South Africa on both its card machines and its online products. | ||
| American Express in person | 3.40% (3.00% over R50k) | 3.4% |
| Excluding VAT. Both charge the same until your volume reaches R50,000 a month, after which Yoco's Core rate falls to 3.00%. iKhokha publishes no lower Amex tier. Because the two are equal at entry level, no winner is given. | ||
Local cards, entry rate
Yoco
2.30%
Winner
iKhokha
2.75%
Yoco's figure is its free Core plan for local debit and credit cards up to R50,000 a month. iKhokha's is its rate for South African cards on its card machines up to R40,000 a month. Neither adds a fixed fee per in-person transaction. Both quote rates excluding 15% VAT, so you pay 2.645% at Yoco and 3.1625% at iKhokha (iKhokha's own help centre uses the 3.1625% figure). Yoco's paid plans cut the entry debit rate further: 2.10% on Plus and 1.95% on Pro, for subscriptions of R249 and R499 a month per location (subscription prices include VAT; the rates do not).
Local cards, higher volume
Yoco
Debit 1.35%, credit 2.30% (over R50k)
Winner
iKhokha
2.65% to 2.5% (R40k to R100k)
Yoco's Core debit rate drops to 1.35% once your rolling three-month sales average reaches R50,000. Its local credit card rate stays at 2.30% on Core. iKhokha's rate steps down to 2.65% (R40,000 to R60,000), 2.55% (R60,000 to R80,000) and 2.5% (R80,000 to R100,000), based on your average over the past three months, with new rates taking effect from the 10th of the following month. iKhokha's help centre is not consistent on this: its payouts article instead says the rate drops once payout volume reaches R40,000, R60,000 or R80,000 "within a trading month" and does not go back up if volume falls. Even Yoco's credit card rate is lower than iKhokha's best published tier. Above R200,000 a month (Yoco) or R100,000 (iKhokha), both offer custom rates. iKhokha also says it will "match or beat your rate" for merchants who switch.
International cards
Yoco
3.20% (2.75% over R50k)
Winner
iKhokha
3.25%
In-person rates, excluding VAT. Yoco's are on the Core plan. iKhokha's 3.25% applies to cards issued outside South Africa on both its card machines and its online products.
American Express in person
Yoco
3.40% (3.00% over R50k)
iKhokha
3.4%
Excluding VAT. Both charge the same until your volume reaches R50,000 a month, after which Yoco's Core rate falls to 3.00%. iKhokha publishes no lower Amex tier. Because the two are equal at entry level, no winner is given.
Best For Your Business
Recommendations based on your business type
Market stall, food truck or small shop taking mostly cards at the counter
Recommended
Yoco
Both entry machines cost R699, but Yoco's 2.30% entry rate is lower than iKhokha's 2.75%, its standard payouts are free, and its mobile data is included. iKhokha charges R2.50 on each payout, and its fee list shows R75 a month for a data SIM.
Business that needs card takings in the bank the next day
Recommended
iKhokha
iKhokha pays FNB and Absa clients as soon as the next business day, and its iK Debit Card route pays out twice a day. Yoco's free payout usually takes two to three business days, and its Fast Payout costs 0.75% (minimum R7.50) on the Core plan.
Small online seller using WooCommerce or Wix with modest monthly sales
Recommended
iKhokha
Below a R50,000 monthly average, iKhokha's 2.85% with no fixed fee beats Yoco's 2.95% + R2 on every sale, and iKhokha adds Instant EFT at 2%. Its gateway does not take American Express or Diners Club.
Shopify store or business with many Amex customers
Recommended
Yoco
Only Yoco lists a Shopify integration and takes American Express online (3.50% + R2 on Core). iKhokha's gateway supports neither.
Growing business over R50,000 a month in mostly debit card sales
Recommended
Yoco
Yoco's Core debit rate drops to 1.35% excluding VAT above a R50,000 rolling average, against iKhokha's 2.65% to 2.5% in the same band. Above R100,000 to R200,000 a month, ask both for a custom rate.
Yoco: Best for 3 use cases
iKhokha: Best for 2 use cases
Frequently Asked Questions
Common questions about this comparison
For in-person card payments, Yoco is cheaper on its published rates. Its free Core plan starts at 2.30% excluding VAT on local cards, against iKhokha's 2.75%, and Yoco charges nothing for standard payouts, while iKhokha charges R2.50 per payout. Online, iKhokha is cheaper for smaller sellers: 2.85% with no fixed fee, against Yoco's 2.95% + R2.
Yes. Both quote their transaction rates excluding 15% VAT, which is added to the fee. Yoco's 2.30% therefore costs 2.645%, and iKhokha's 2.75% costs about 3.16%. VAT-registered businesses can claim the VAT back from SARS.
Neither charges a monthly fee or rental on its base offer, and you buy the card machine outright. Yoco's optional Plus and Pro plans cost R249 and R499 a month per location and lower the rates. iKhokha's fee list shows R75 a month for an optional unlimited-data SIM, although its pricing table shows data as included; Yoco includes unlimited data at no charge.
iKhokha. FNB and Absa clients can be paid as soon as the next business day, and iK Debit Card users the same day. Yoco's free standard payout usually reaches your bank two to three business days after the sale, though you can pay for its Fast or Instant payouts.
Yes. Nedbank Group completed its purchase of 100% of iKhokha on 1 December 2025, in a deal valued at R1.65 billion. iKhokha still trades under its own brand. Yoco is a separate private company and is not owned by a bank.
As of 15 October 2026, both entry machines cost R699 once-off at reduced prices with no end date given: Yoco's Khumo 2 (down from R1,299) and iKhokha's iK Flyer Lite (down from R999). Machines with a built-in printer cost R1,399 for Yoco's Khumo Print 2 and R1,499 for iKhokha's iK Flyer.
Related Comparisons
Explore more payment processor matchups